APES Chapter 10 Questions and Answers

tragedy of the commons

shared resources becoming depleted; selfish individuals; self interest/short term gain







externality

a cost or benefit of a good or service that isn't included in the purchase price originally (farmer grazing too many sheep, affecting the pasture negatively NOT positively)







maximum sustainable yield (MSY)

the maximum amount that can be harvested without compromising future availability of a resource







resource co...
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